Have you set your sales target for this year? If not, it’s time to get started. One of my clients uses a simple but effective method to stay ahead of inflation, the “10% plus method.”
They look at last year’s sales, add 10%, and then aim for a bit more. It’s a straightforward way to push for growth while staying realistic.
However, hitting those targets requires more than just a number on paper. To achieve your sales goals, you need a strategic plan.
Start with a Clear Target
Let’s say your goal is to reach $1,000,000 in sales this year. There are countless ways to get there, depending on how you approach it:
- 1 sale at $1,000,000
- 10 sales at $100,000 each
- 1000 sales at $1000 each
- 10,000 sales at $100 each
- 1,000,000 sales at $1 each
Each path leads to the same result, but the effort required varies significantly.
Understanding Effort vs. Value
Here’s the surprising part: the effort it takes to close a $100,000 sale isn’t much different from what’s required to close a $10,000 sale. That might sound counterintuitive, but it’s true.
When I started out, I focused on smaller, lower-value sales. That meant chasing a high volume of clients to hit my targets, which was exhausting and time-consuming.
But when I shifted my focus to higher-value services, everything changed. I needed fewer sales to achieve my goals, and the business grew significantly.
The same principle applies to your business.
It’s about understanding what drives your revenue and choosing the right strategy to achieve your goals.
Quality Over Quantity
Rather than chasing thousands of small sales, why not focus on fewer, higher-value ones? Sure, selling a $1 product might feel easier, but think about the time and energy required to sell a million of them.
In contrast, securing one $1,000,000 deal can transform your business with far less effort.
The Choice Is Yours
Ultimately, how you reach your sales target is up to you. Whether it’s high-volume, low-value sales or fewer high-value deals, the key is to be intentional and strategic.
Take some time to analyze your products, services, and customer base.
What’s contributing most to your revenue? Adjust your strategy accordingly, and watch your business grow beyond just “10% plus.”